Escaping the middle-income trap

After a turbulent 2015, China’s major stock exchanges took another hit in January. Chinese authorities have in the past clumsily tried to stop the free fall in markets with various degrees of success. But for China to avoid a middle-income trap and become a high-income country, it will need to develop and trust the markets instead of distorting them with unsustainable growth, just like its Northeast Asian neighbours did.

A reality check for renewable energy

The clean- and safe-energy revolution is not imminent. In fact, according to the information compiled by ‘Looking Ahead: The 50 Global Trends That Matter’, an annual compendium of data and graphics on subjects ranging from economics to demography to energy, the majority of the planet’s electricity needs will still be fueled by coal and natural gas in 2040, despite strong growth in non-hydro renewables such as wind, solar, and ge

China and the future of commodity prices

There is no doubt that China’s ongoing growth slowdown has had far-reaching effects on the global economy. But its role in the sharp fall in commodity prices that has occurred since 2014 – an outcome that has been devastating for commodity-exporting countries, including once-dynamic emerging economies – is more limited than the conventional wisdom suggests. In fact, China’s slowdown is only part of the commodity-price stor

Ensuring better water, sustainable agriculture and better lives for SL

March 22 marks the World Water Day 2016 under the theme ‘Water and jobs’. The theme focuses on how enough quantity and quality of water can change workers’ lives and livelihoods - and even transform societies and economies. In this article to mark the day, IPS Researchers Chatura Rodrigo and Athula Senaratne explore the challenges faced by agricultural livelihoods, which employ a majority of Sri Lanka’s rural sector and id

How solid are ASEAN’s democracies?

In recent years, Southeast Asia has experienced what are, if viewed in historical perspective, three ‘miracles’: economic growth, the disappearance of mass atrocities, and efforts to promote regional peace and community building. 

Will India lead the next wave of global economic growth?

Global growth has been tepid since the global financial crisis broke out almost 10 years ago, having declined from an average of 4.5 percent during the five years preceding the crisis to 3.5 percent over the past five years. Both advanced economies and emerging markets have suffered. Given that global trade was growing significantly faster than global gross domestic product (GDP) in the pre-crisis period on the back of global production chains, t

How advancing women’s equality can add $12 tn to global growth

By Jonathan Woetzel, Anu Madgavkar, Kweilin Ellingrud, Eric Labaye, Sandrine Devillard, Eric Kutcher, James Manyika, Richard Dobbs, and Mekala Krishnan A new McKinsey Global Institute report finds that $12 trillion could be added to global GDP by 2025 by advancing women’s equality. The public, private, and social sectors will need to act to close gender gaps in work and society.

Balancing the scales: Taming supermarket buyer power

Accompanied by the rise in per capita incomes and overall improvements in living standards, supermarkets are increasingly accounting for a growing share of grocery trade in many developing countries around the world. 

The future of bank risk management

Banks have made dramatic changes to risk management in the past decade—and the pace of change shows no signs of slowing. Here are five initiatives to help them stay ahead.

The importance of laundry industry in Sri Lanka cannot be overlooked

Back around the turn of the century, the great industrial revolution changed the way we all look and live. We recall, in the old days in Sri Lanka, laundry operation was predominantly done in shops and separate areas by family members and thus, creating a mythical misconception among Sri Lanka society that laundry work is a cast-related profession.

Industry leaders – Upholding a nation of strong values

A fate, ending in death, a rite of passage for the animal kingdom’s gentle giants – elephants. All for the callous want to harvest ivory.

Decoding leadership: What really matters

Telling CEOs these days that leadership drives performance is a bit like saying that oxygen is necessary to breathe. 

CA Sri Lanka training partners play leading role in inspiring future leaders

Supervising Members of the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) have the ability to bring out the best in the trainees and make them inspirational leaders who possess the right attitude and balance to life, helping them enjoy enhanced success in their future, said world renowned Prof. B. Mahadevan at CA Sri Lanka Training Partners Forum 2016. 

IMF reform agenda good news for Asia

International Monetary Fund (IMF) Managing Director Christine Lagarde warned that the global financial safety net — the international resources and institutions designated to fight economic crises and prevent contagion — has become too fragmented and asymmetric. The safety net, she said, needs to be reformed and strengthened.

Ceylon Chamber welcomes ETCA, but urges systematic consultations with private sector

The Ceylon Chamber of Commerce has consistently supported the expansion of Sri Lanka’s trade interests through signing mutually beneficial and well-designed trade agreements and this has been clearly articulated in its ‘10 Principles’ on the economy. The chamber believes that such agreements are an important tool in deepening trade and investment opportunities for its businesses, within a rules-based framework. 

Asia and the next financial crisis

The Asian financial crisis of 1997–98 was a huge turning point in Asia. Asia’s confidence in the International Monetary Fund (IMF) and the US leadership to help through global institutions in a time of crisis was seriously shaken. The disillusionment was deepest in Tokyo, Seoul, Bangkok and Jakarta — Beijing was then an innocent defender of the status quo. 

Sri Lanka’s tea industry: Too long in adolescence, it’s time to grow up

Tea sector wage negotiations have been in deadlock now for 10 months. There are political reasons for this situation, but also an overarching economic one: global tea prices have declined – as it periodically happens – and the industry is not geared to compete. 

Zero rates wrecked your savings? Relax on a US $ 17,000 footstool

REUTERS: It doesn’t look like much, but a boxy wooden vintage Swedish footstool isn’t just a place to rest your weary feet after cross-country skiing. It is the latest competition to hedge funds or high end real estate. And that means it will cost you $17,000.

Can the regulator ‘market’ the stock market? - An opinion

Capital markets have the potential to be powerful engines of economic growth in developing nations. An efficient stock market provides the public with investment opportunities and mobilizes their savings for productive corporate financing. Yet, developing a robust and efficient capital market is a difficult task for many emerging economies. It requires a fine blend of regulation, market development and marketing. 

Uncover leadership lessons with Bhagavad Gita

By Shabiya Ali Ahlam In today’s world, almost all organisations are fraught with changes and challenges thanks to the ever changing global economic environment. The challenges include the constantly evolving technology and marketplaces, diversity, bullying, political and industrial reforms and regulations. 

Good governance activist raises concerns over “no questions asked” deposits

An open letter to the Minister of Finance and the Governor of the Central Bank; to be duly noted by the President, the Prime Minister, the government, commercial & financial services sectors and professional practitioners.  

Policy reforms for a productive agriculture sector in Sri Lanka

Sri Lanka’s agricultural sector employs and sustains a majority of the population, and impinges on critical areas of poverty, food security and related social issues.   

Branding Sri Lanka’s wildlife

Recently there were newspaper reports about the Wildlife Conservation Department publicizing seven iconic wild animals found in Sri Lanka as a way of promoting tourism. According to this idea, the top seven wild animal species in the list were:  

Short of options, Sri Lanka turns back to Beijing’s embrace

Just over a year after a new leader was elected and Sri Lanka’s business ties with China came under close scrutiny, Colombo is reversing course by resuming a stalled port project and naming Beijing as the front-runner for a new special economic zone.  

Migrant labour reforms: Tackling the Family Background Report

The factors driving migration are many; some migrate in search of better economic opportunities, whilst others are forced to migrate owing to conflicts, natural disasters, etc. In the case of Sri Lanka, temporary labour migration of workers in search of greater opportunities and a better life continues unabated, with over 300,000 leaving the country each year in search of employment abroad. Of these, nearly 40 percent are females, with the vast m

Fixing Sri Lanka’s revenue problem is a priority

Taxes are the key source of government revenue. Normally, the tax share as a percentage of gross domestic product (GDP) is expected to increase as the per capita GDP rises. This Insight shows that in Sri Lanka, this is not the case; the country’s per capita GDP has been rising but the tax to GDP ratio has been falling.  Sri Lanka needs to improve its tax revenue to ensure that the government has enough money to spend towards welfare an

Stock market stakeholders: FAQ

Many retail investors believe that market performance is shaped by the actions/omission of the stock exchange, regulator, investors and listed companies.

Food security: Asia’s critical balancing act

Asia’s food systems are under an unprecedented confluence of pressures. Balancing future food demand and supply in ways that protect the most vulnerable, while also being sustainable, must be a first order policy priority.

ETCA: Why so hush-hush?

Sri Lanka’s attempts to deepen ties with other nations have often, if not always, created uproar across diverse groups of society. The latest example is the hue and cry made against the Economic and Technical Cooperation Agreement (ETCA) that is scheduled to be inked with India mid this year.

Face reality, think radical or exports will stagnate: MTI

Delivering the keynote at the 30th anniversary celebrations of the National Chamber of Exporters, MTI CEO Hilmy Cader assessed the contemporary issues related to exports in the international market place, ...